Mechel Reports Signing Protocol of Intent with China National Coal Group

On September, 21 the Protocol of Intent was signed between Mechel OAO and China National Coal Group – the second largest coal producer in China. The Protocol was signed within the framework of the regular round of Sino-Russian energy negotiators' meetings which was headed by Mr. Igor Sechin, Deputy Prime Minister of Russia, on the one hand, and Mr. Wang Qishan, Vice Premier of the State Council of China, on the other hand.
The Protocol of Intent was signed by Mr. Igor Zyuzin, Chairman of Mechel’s Board of Directors, on behalf of Mechel OAO and Mr. Wang An, Chairman of China National Coal Group, on behalf of China National Coal Group.
China National Coal Group’s core businesses include coal production and trading as well as coke and coal-chemical products, coal mining equipment manufacturing, power generation, coal mine construction, and relevant engineering technical services. China National Coal is the world’s largest and leading underground coal mining equipment producer.
The Protocol was signed in order to establish mutual strategic partnership between the companies.
Mechel OAO has long-standing and stable partnership relations with Chinese consumers successfully supplying coals of various grades, iron-ore concentrate and ferroalloys. Strong relations are established with the main Chinese associations in the sphere of metallurgy and coke chemistry. Since March 2010 Mechel’s official representative office operates in Beijing.